One Electrical in receivership

One Electrical, the company that promised to "revolutionise the supply and purchasing habits of the electrical contracting industry", has gone into administrative receivership only six months after it was launched.

Sources at receiver Begbies Traynor confirm that several parties are interested in buying the company but no deal has yet been finalised.

One Electrical went into receivership on 15 August. Distributing own brand products on a next day delivery basis, the company anticipated that its combination of low cost, speedy delivery and Internet ordering options would give it a large slice of electrical wholesalers' business.

The firm hoped to attract the small to medium-sized contractor with prices up to 50% cheaper than wholesalers' list rates.